of  tte 

©nibersiitp  of  JgortfjCarolina 


Conectton  of  i^ortf)  Caroliniana 

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of  ttjeClastsof  1889 

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00032740605 

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SEP  28  1948 


CHARTER  AND  BY-LAWS 


OF    THE 


NORTH  CAROLINA  RAIL  ROAD  COMPANY, 


WITH    THE 


PROCEEDINGS 


OF   THE. 


FIRST  MEETING  OF  STOCKHOLDERS 


SALISBURY,    N.    C. 

JULY  11,  12,  1850. 


'RINTED    AT    THE    CAROLINA    WATCHMAN    OFFICE,. 

SALISBURY,  N.  C. 
1850. 


Lyibrary,  Univ.  Ol 
North  Carolina 


CHARTER 

OF    THE 

NORTH  CAROLINA  RAIL  ROAD  COMPANY, 


INDEX   TO    SECTIONS. 


Section 

1  Incorporates  Company  with  capital  of  $3,000,000. 

2  Route  of  Road,  from  Wilmin^on  Road  to  Charlotte. 

3  Appoints  Commissioners  for  creating  Stock  and  opening  Books  o''  Subscription. 

4  Books,  when  and  how  long  to  be  kept  open ;  amount  of  shares,  five  dollars  of 

which  to  be  paid  down  ;  to  be  paid  over  to  General  Commissioners. 

5  Duty  of  General  Commissioners  in  keeping  open  Books,  and  when  $1,000,000 

shall  be  subscribed. 
C  7  Corporate  rights  and  powers. — Notice  of  process. 

8  Provision  for  first  and  subsequent  General  Meetings,  election  of  Directors,  &.c. 
9  10,  11,  12,  13  Number  of,  and  manner  of  voting  for  Directors,  election  of  Pre- 
sident, and  quorum  ai  General  Meetings:  Votes  and  Pro.xiee. 

14  Return  to  be  made  by  General  Commissioners,  and  penalty. 

15  Vacancies  in  Board,  to  be  filled  by  Directors. 
IG  Authentication  of  Contracts. 

17  Construction  and  use  of  Road  ;  when  any  section  is  completed. 

18  Right  and  charges  for  transportation  of  goods  or  passengers. 

19  Company  may  farm  out  right,  and  made  common  carrier. 

20  Manner  of  Calling  for  and  enforcing  payments  of  Stock. 

21  Debt  of  deceased  Stockholders,  equal  dignity  with  judgments. 

22  Certificates  of  Stock  shall  be  issued,  and  how  transferred. 

23  Capital  may  be  increased,  and  how. 

24  Directors  to  make  Annual  Report,  and  may  call  Meetings. 


25  Company  may  purchase  and  hold  Land. 

26  May  cross  Roads  and  Streams.     Proviso. 

27  Proceedings  in  valuing  Laud. 

28  Number  of  feet  of  Land  condemned. 

29  Absence  of  contract  for  lands,  provision  fur. 

30  Land  not  heretofore  granted,  provision  for. 

.31   and  32  Penalties  for  intrusion  and  malicious  injuries. 

33  34  and  35  Of  obstructions  of  Road,  storage  and  carriage  of  goods,  and  dividends. 

36  Provides  for  subscription  on  behalf  of  the  State. 

37  and  38  Provides  for  borrowing,  and  manner  of  borrowing  money- 

39  Duties  of  Comptroller  and  Treasurer  relative  to  registering  Certificates. 

40  Treasurer  to  advertise  for  Proposals,  &c. 

41  and  42  Pledge  faith  of  State,  and  make  certificates  transferable. 

43  and  44  Appointment  of  State  Directors,  and  Officers  exempt  from  mustering. 

45  For  putting  Raleigh  and  Gaston  Road  in  repair,  company  incorporated. 

46  Conditions  on  which  they  shall  have  one  half  the  Road,  and  be   exempt  from 

liabilities,  &c. 

47  Mortgage  to  purchas*?  part  of  the  Iron. 

48  If  terms  not  accepted,  others  incorporated. 

49  Authorizes  State  subscription  for  connecting  with  other  Road. 

50  Reserved  power  of  the  General  Assembly. 

51  Appropriations  for  improving  the  Neuse  and  Tar  Rivers. 

52  Junction  of  Roads. 

53  Limit  for  commencement  of  work,  three  years. 


Sec.  1.  Be  it  enacted  by  the  General  Assembly  of  the  State  of  North 
Carolina,  and  it  is  hereby  enacted  hy  the  authority  of  the  same,  That 
fov  tlie  purpose  of  effecting  a  Rail  Road  communication  between  tlie 
Wilmington  and  Raleigii  Rail  Road,  wliere  the  same  pti6.sos  over  tiie 
Neuse  River,  in  the  County  of  Wayne,  and  the  Town  of  Charlotte,  in 
this  State,  tlie  formation  of  a  corporate  Compan-v,  with  a  Capital  Stock 
of  Three  Millions  of  Dollars,  is  hiireby  authorised,  to  be  called  **  lliG 
.N^orth  Carolina  Rail  Road  Company,"  and  when  formed  in  com})liancc 
with  the  conditions  hereinafter  prescribeil.  to  ha^e  a  corporate  existence 
a.s  a  body  politic,  in  }/ei-potuitv. 

Sec.  2.  That  tiie  said  Company  be,  and  the  same  is  hereby  autlior- 
i.-sed  to  construct  a  Rail  Road  from  the  Wilmington  and  Raleigh  Rail 
Road,  where  the  same-  passes  over  Neuse  River,  in  the  County  of  Wayne, 


a  Kaleigh,  and  thence  by  tlie  most  practicable  route,  via  Salisbury,  in 
:,..;■  Countv  of  Rowan,  to  the  Town  of  Charlotte,  in  the  County  of  Meck- 
lenburg. 

Sec.  3.  That  for  the  purpose  of  creating  the  Capital  Stock  of  said 
Company,  the  following  persons  be,  and  the  same  are  hereby  appointed 
Commissioners,  viz:  Joseph  II.  Wilson,  of  Charlotte;  William  C. 
Means,  of  Concord ;  John  B.  Lord,  of  Salisbury ;  Richard  Washing- 
ton, Waynesboro' ;  John  McLeod,  of  Smithfield ;  George  W.  Mordecai, 
Raleigh ;  Henry  B.  Elliott,  Randolph ;  James  M.  Leach,  Lexington ; 
John  M.  Morehead,  Greensboro' ;  Wilham  A.  Graliam,  Hillsboro' ;  Na- 
than A.  Steadman,  Pittsboro' ;  Edward  B.  Dudley,  W^ilmington ;  Aloii- 
20  P.  Jerkins,  Newbern ;  Samuel  P.  Hargrave,  Lexington ;  Archibald 
G.  Carter,  Davie.  That  it  shall  be  lawful  to  open  Books  in  the  Town  vi 
Wilmington,  under  the  direction  of  Wilham  C.  Bettencourt,  W.  A. 
Wright,  Daniel  B.  Baker,  Henry  T.  Nutt,  P.  K.  Dickinson,  Gilbert  Pot- 
ter and  Wilham  Peden,  or  any  three  of  them ;  at  Charlotte,  under  the 
direction  of  Da\id  Parks,  John  A.  Young,  Jas.  W.  Osborne,  Joseph  K. 
Wilson,  William  Elms  and  Wilham  F.  Davidson,  or  any  three  of  them  : 
at  Raleigh,  under  the  direction  of  Josiah  0.  Watson,  Duncan  K.  McRae, 
William  W.  Holden,  Thomas  J.  Lemay,  and  Charles  L.  Hlntou,  or  any 
three  of  them ;  at  Gaston,  under  the  direction  of  Edmund  Wilkins, 
Willis  Sledge,  Benjamin  W.  Edwards,  and  James  Gresham,  or  smy  tiiree 
of  them ;  at  Warrenton,  under  the  direction  of  William  Eaton,  Daniel 
Turner,  Peter  R.  Davis,  Wilham  Plummer,  and  Thomas  T.  Twitty,  or 
any  three  of  them ;  at  Ridgeway,  imder  the  direction  of  George  D. 
BaskerviUe,  Weldon  N.  Edwards,  Michael  Collins,  and  Alexander  B. 
Hawkins,  or  any  three  of  them ;  at  Henderson,  under  the  direction  ol 
John  S.  Eaton,  John  D.  Hawkins,  Wilham  Uandriers,  Demetrius  E. 
Young,  or  any  three  of  them ;  at  Frankhnton,  under  the  direction  ol' 
Edward  T.  Fowl  kes,  William  H.  Simms,  or  any  three  cf  them;  at  Hills- 
borough, under  the  direction  of  D.  F.  Long,  John  Berry,  Edward  Strud- 
wick,  and  Col.  CadwaUader  Jones,  or  any  three  of  them  ;  at  Chapel  Hill. 
under  the  direction  of  Ehsha  ^litchell,  William  H.  ^lerritt,  Jesse  Har- 
grave, and  P.  H.  McDade,  or  any  three  of  them ;  at  Ashboro",  undirr 
the  direction  of  Henry  B.  Elliott,  Alexander  Hogan,  Jesse  Harpei',  Jon- 
-  athan  Worth,  or  any  three  of  them ;  at  Greensborough,  under  the  <)1- 
•^  rection  of  John  M.  Morehead,  John  A.  Gilmer,  Wilson  S.  Hill,  John  A. 
1^  Mebane,  and  Jesse  Lindsay,  or  any  three  of  them  ;  at  Jamestown,  und<'r 


6 

the  direction  of  Richard  Mendenhall,  George  C.  Mendenhall,  S.  G.  Coffin, 
J.  W.  Field,  or  any  three  of  them ;  at  Haywood,  under  the  direction  of 
Robert  Faucett,  P.  Evans,  and  John  Wilhams  ;  at  Pittsboro',  under  the  di- 
rection of  J.  A.  Stedman,  Green  Womack,  S.  McClennahan,  and  Joseph 
Ramsay,  or  any  three  of  them  ;  at  Carthage,  under  the  direction  of  A. 
C'Urrie,  John  M.  Morrison,  Cornehus  Dowd,  and  J.  D.  McNeill,  or  any 
three  of  them ;  at  Lexington,  under  the  direction  of  William  R.  Holt, 
James  M.  Leach,  Charles  L.  Paine,  or  any  three  of  them;  at  SmithfieLl, 
luider  the  direction  of  John  McLeod,  B}i;han  Bryan,  L.  B.  Sandei-s, 
]3aldy  Sanders,  Thaddeus  W.  Whitley,  or  any  three  of  them  ;  Salisbury, 
under  the  direction  of  Archibald  H.  Caldwell,  Charles  F.  Fisher,  Horace 
L.  Robards,  Maxwell  Chambers,  and  Thomas  L.  Cowan,  or  any  three  of 
them ;  at  Statesville,  under  the  direction  of  Theophilus  Falls,  William 
F.  Cowan,  Thomas  A,  Allison,  or  any  three  of  them ;  at  Concord,  im- 
(ler  the  direction  of  Rufus  Barrlnger,  Kiah  P.  Harris,  Daniel  Coleman, 
R.  W.  Foard,  and  Caleb  Phifer,  or  any  three  of  them ;  at  Mocksville, 
under  the  direction  of  John  A.  Lillington,  Gustavus  A.  Miller,  Arclu- 
bakl  (r.  Carter,  and  Lemuel  Bingham,  or  any  three  of  them ;  at  Salem, 
under  the  direction  of  Francis  Fries,  John  A^ogler,  Thomas  J.  Wilson, 
John  J^lackbourn,  or  any  three  of  them ;  Avhose  duty  it  shall  be  to  di- 
rect the  opening  of  Books  for  subscription  of  Stock,  at  such  times  and 
places,  and  under  the  direction  of  such  persons  as  they,  or  a  majority  of 
tliem,  may  deem  proper ;  and  the  said  Commissioners  shall  have  power 
to  appoint  a  C'hairman  of  their  body.  Treasurer,  and  all  other  Officers, 
and  to  sue  for  and  recover  all  sums  of  money  that  ought,  under  this  act, 
t.)  be  received  by  them. 

Sec.  4.  That  all  persons  who  may  hereafter  be  authorized  to  open 
pjooks  for  subscription  of  Stock  by  the  Commissioners  herein  appointed 
for  that  purpose,  shall  open  said  Books  at  any  time  after  the  ratification 
of  this  Act,  twenty  days  previous  notice  being  given  in  some  one  or 
more  of  the  public  newspapers  in  this  State ;  and  that  said  Books,  Avhen 
opened,  shall  be  kept  open  for  the  space  of  thirty  days  at  least,  and 
as  long  thereafter  as  the  Commissioners  first  aboved  named  shall 
direct ;  and  that  all  subscription  of  Stock  shall  be  in  shares  of  one  hun- 
dred dollars,  the  subscriber  paying  at  the  same  time  of  making  such 
subscription  five  dollars  on  each  share  thus  subscribed,  to  the  person  or 
])er3ons  authorized  to  receive  such  subscription ;  and  in  case  of  feilure  to 
]:ay  said  sum,  all  such  subscriptions  shall  be  void  and  of  no  effect ;  and 


7 
upon  closing  the  Books,  all  such  sums  as  shall  have  been  thus  received 
of  subscribers  on  the  fii-st  cash  instalment,  shall  be  pmd  over  to  the  Gen- 
eral Commissioners  named  in  the  third  section  of  this  Act,  by  the  per- 
sons receiving  them  ;  and  for  failure  thereof  such  person  or  persons  shall 
be  personally  liable  to  said  General  Commissioners  before  the  organiza- 
tion of  said  Company  and  to  the  Company  itself  after  its  organization, 
to  be  recovered  in  the  Superior  Court  of  Law  within  this  State,  in  the 
County  where  such  delinquent  resides,  or  if  he  reside  in  any  other  State, 
then  in  any  Court  in  such  State  having  competent  jurisdiction  ;  Tlie 
said  General  Commissioners  shall  have  ])Ower  to  call  on  and  require  all 
persons  empowered  to  receive  subscriptions  of  Stock  at  any  time  and 
from  time  to  time,  as  a  majority  of  them  may  think  proper,  to  make  a 
return  of  the  Stock  by  them  respectively  received,  and  to  make  payment 
of  all  sums  of  money  made  by  the  subscribers,  that  all  persons  receiving 
subscriptions  of  Stock  shall  pass  a  receipt  to  the  subscriber  or  subscri- 
bers for  the  paj-ment  of  the  first  instalment,  as  heretofore  required  to  be 
paid ;  and  upon  their  settlement  with  the  General  Commissioners,  as 
aforesaid,  it  shall  be  the  duty  of  the  said  General  Commissioners  in  like 
manner  to  pass  their  receipt  for  all  sums  thus  received,  to  the  persons 
from  whom  received  ;  and  such  receipts  shall  be  taken  and  held  to  be 
good  and  sufficient  vouchers  to  the  persons  holding  them :  That  sub- 
scriptions of  Stock  thus  received  to  an  amount  not  exceeding 


Sec.  5.  It  shall  be  the  duty  of  said  General  Commissioners  to  direct 
and  authorize  the  keeping  open  of  Books  for  the  subscription  of  stock 
in  the  manner  above  described,  until  the  sum  of  one  million  of  dollars 
shall  have  been  subscribed  to  the  capital  stock  of  said  Company ;  and 
as  soon  as  the  said  sum  of  one  milHon  of  doUars  shall  have  been  sub- 
scribed, and  the  first  instalment  of  five  dollars  per  share  on  said  sum 
i5hall  have  been  received  by  the  general  commissioners,  said  Company 
shall  be  regarded  as  formed,  and  the  said  commissioners,  or  a  majority 
of  them,  shall  sign  and  seal  a  dupUcate  declaration  to  that  effect,  with 
the  names  of  the  subscribers  appended,  and  cause  one  of  the  said  dupli- 
cates to  be  deposited  in  the  office  of  the  Secretary  of  State,  and  thence- 
forth, from  the  closing  of  the  Books  of  subscription  as  aforesaid,  the 
said  subscribers  to  the  stock  shall  form  one  body  politic  and  corporate, 
in  deed  and  in  law,  for  the  purposes  aforesaid,  by  the  name  and  style  of 
"  the  North  CaroUna  Rail  Road  Company." 


Sec.  6.  That  whenever  the  sum  of  One  Million  of  Dollars  shall  be 
subscribed  in  manner  and  form  aforesaid,  the  subscribers,  their  executors, 
administrators  and  assigns,  shall  be,  and  they  are  hereby  declared  to  be 
incorporated  into  a  Company  by  the  name  and  style  of  "  The  North" 
(Carolina  Rail  Road  Company  ;"  and  by  that  name  shall  be  capable  in 
Law  and  Equity,  of  purchasing,  holding,  selling,  leasing  and  convej'ing 
testates,  real,  personal  and  mixed,  and  acquiring  the  same  by  gift  or  de- 
vise, so  far  as  shall  be  necessary  for  the  purposes  embraced  within  the 
i^cope,  object  and  interest  of  their  charter  and  no  further  ;  and  shall  have 
perpetual  succession,  and  by  their  corporate  name  may  sue  and  be  sued, 
plead  and  be  impleaded  in  any  Court  of  Law  and  Equity  in  the  State 
of  North  Carolina ;  and  may  have  and  use  a  common  seal,  which  they 
may  alter  and  renew  at  pleasure ;  and  shall  have  and  enjoy  all  other 
rights  and  immunities  which  other  corporate  bodies  may,  and  of  right 
do  exercise ;  and  may  make  all  such  by-laws,  rules  and  regulations,  as 
are  necessary  for  the  government  of  the  Corporation,  or  effecting  the 
object  for  which  it  is  created,  not  inconsistent  witli  the  Constitution  and 
laws  of  the  United  States  and  of  the  State  of  North  Carohna. 

Sec.  v.  That  notice  of  process  upon  the  principal  agents  of  said  Com- 
pany, or  the  President  or  any  of  the  Directors  thereof,  shall  be  deemed 
and  taken  to  be  due  and  lawful  notice  of  service  of  process  upon  the 
Company,  so  as  to  bring  it  before  any  Court  within  the  State  of  North 
Carolina. 

Sec.  8.  That  as  soon  as  the  sunr  of  One  ^lillion  of  Dollars  shall  have 
been  subscribed  in  manner  aforesaid,  it  shall  be  the  duty  of  the  General 
<Jommissioners,  appointed  under  the  third  section  of  this  Act,  to  appoint 
a  time  for  the  Stockholders  to  meet  at  Salisbury,  in  Rowan  County, 
which  they  shall  cause  to  be  previously  published,  for  the  space  of  thirty 
days,  in  one  or  more  newspapers,  as  they  may  deem  proper,  at  which 
time  and  place  the  said  stockholders,  in  person  or  proxy,  shall  proceed 
to  elect  the  Directors  of  the  Company,  and  to  enact  all  such  regulations 
and  by-laws  as  may  be  necessary  for  the  government  of  the  Corporation 
and  the  transaction  of  its  business :  The  persons  elected  Directors  at 
this  meeting,  shall  serve  such  period,  not  exceeding  one  year,  as  the 
stockholders  may  direct ;  and  at  this  meeting,  the  stockholders  shall  tix 
on  the  day  and  place  or  places  where  the  subsequent  election  of  Direc- 
tors shall  be  held ;  and  such  elections  shall  henceforth  bje  annually  made ; 
but  if  the  day  of  the  annual  election  should  pass  without  any  election  of 


Directors,  the  Corporation  shall  not  be  thereby  dissolved,  but  it  shall  be 
kwful  on  any  other  day  to  hold  and  make  such  election  in  such  manner 
as  may  be  prescribed  by  a  by-law  of  the  Corporation. 

Sec.  9.  That  the  affiiirs  of  the  Company  shall  be  managed  and  di- 
rected by  a  General  Boaitl,  to  consist  of  twelve  Directors,  to  be  elected 
by  the  stockholders  from  among  tlieir  number  at  their  first  and  subse- 
quent General  Annual  Meetings,  as  prescribed  in  section  eighth  of  this 
Act. 

Sec.  10.  That  the  election  of  Directore  shall  be  by  ballot,  each  stock- 
holder having  as  many  votes  as  he  has  shares  in  the  stock  of  said  Com- 
pany ;  and  the  person  having  a  majority  of  all  the  votes  polled  shall  be 
considered  as  duly  elected. 

Sec.  11.  That  the  President  of  the  Company  shall  be  elected  by  the 
Directors  from  among  their  number,  in  such  a  manner  as  the  regulations 
of  the  Company  shall  prescribe. 

Sec.  12.  That  at  the  first  General  Meeting  of  the  stockholders,  direct- 
ed to  be  called  under  section  eighth  of  this  Act,  a  majority  of  all  the 
shares  subscribed  shall  be  represented  before  proceeding  to  business, 
and  if  a  sufficient  number  do  not  appear  on  the  day  appointed,  those 
who  do  attend  shall  have  power  to  adjourn  fi-om  time  to  time  xmtil  a 
regular  meeting  shall  be  thus  formed ;  and  at  such  meeting  the  stock- 
holders may  provide,  by  a  by-law,  as  to  the  number  of  stockholders  and 
the  amount  of  stock  to  be  held  by  them,  which  shall  constitute  a  quo- 
rum for  transacting  business  at  all  subsequent  regular  or  occasional 
meetings  of  stockholders  and  Directors. 

Sec.  13.  That  at  all  elections,  and  upon  all  votes  taken  in  any  gener- 
al meeting  of  the  stockholders  upon  any  by-law  or  any  of  the  affairs  of 
said  Company,  each  share  of  *ock  shall  be  entitled  to  one  vote, .  and 
that  any  stockholder  in  said  Company  may  vole  by  proxy  ;  and  proxies 
may  be  verified  in  such  manner  as  the  stockholders  by  by-laws  may 
prescribe. 

'  Sec.  14.  That  the  General  Commissioners  shall  make  their  return  of 
the  shares  of  stock  subscribed  for,  at  the  fii-st  general  meeting  of  stock- 
holders, and  pay  over  to  the  Directors  elected  at  said  meeting,  or  their 
authorized  agent,  all  sums  of  money  received  from  subscribers,  and  for 
failure  therefor,  shall  be  personally  liable  to  said  Company,  to  be  recov- 
ered at  the  suit  of  said  Company,  in  any  of  the  Superior  Courts  of  Law 


10 

in  this  State,  within  the  County  where  such  delinquent  or  dehnquents 
may  reside,  and  in  Uke  manner  from  said  dehnquent  or  said  dehnquents, 
executore  or  administrators,  in  case  of  his  or  their  death. 

Sec.  15.  That  the  Board  of  Directors  may  fill  all  -sancancies  which 
may  occur  in  it  during  the  period  for  which  they  have  been  elected,  and 
in  the  absence  of  the  President  may  fill  his  place  by  electing  a  President 
2>ro  tempore  from  among  their  number. 

Sec.  16.  That  all  contracts  or  agi-eements,  authenticated  by  the  Pre- 
sident and  Secretary  of  the  Board  of  Directors,  shall  be  binding  on  the 
Company  without  a  seal,  or  such  a  mode  of  authentication  may  be  used, 
as  the  Company,  by  their  by-laws,  may  adopt. 

Sec.  17.  That  the  Company  shall  have  power  and  may  proceed  to 
construct,  as  speedily  as  possible,  a  rail  road,  with  one  or  more  tracks, 
to  be  used  with  steam  power,  which  shall  extend  from  the  Wilmington, 
and  Ptaleigh  Rail  Road,  where  the  same  passes  over  Neuse  River,  in  the 
County  of  Wayne,  via  Raleigh  and  Sahsbury,  to  the  Town  of  Charlotte, 
in  Mecklenburg  County:  said  Company  jnay  use  any  section  of  the  rail 
road  constructed  by  them  before  the  whole  of  said  road  shall  be  com- 
pleted. 

Sec.  18.  That  the  said  Company  shall  have  the  exclusive  right  of 
conveyance  or  transportation  of  persons,  goods,  merchandise  and  produce 
over  the  said  rail  road,  to  be  by  them  constructed,  at  such  charges  as 
may  be  fixed  on  by  a  majority  of  the  Directors. 

Sec.  19,  That  the  said  Company  may,  when  they  see  fit,  farm  out 
their  right  of  transportation  over  said  rail  road,  subject  to  the  rules  above 
mentioned ;  and  said  Company  and  every  person  who  may  have  receiv- 
ed from  them  the  right  of  transportation  of  goods,  wares  and  produce 
on  the  said  rail  road,  shall  be  deemed  and  taken  to  be  a  common  carrier, 
as  respects  all  goods,  wares,  produce  and  merchandise  entrusted  to  them 
for  transportation. 

Sec.  20.  That  the  Board  of  Directors  may  call  for  the  payment  of 
the  sums  subscribed  as  stock  in  said  Company  in  such  instalments  as  the 
interest  of  said  Company  may,  in  their  opinion,  require ;  the  call  for 
each  payment  shall  be  published  in  one  or  more  newspapers  in  this  State 
for  the  space  of  one  month  before  the  day  of  payment ;  and  on  failure 
of  any  stockholder  to  pay  each  instalment  as  thus  required,  the  Direc- 
tors may  sell  at  pubHc  auction,  on  a  prenous  notice  of  ten  days  for  cash, 


11 

all  the  stock  subscribed  for  in  said  Company,  by  such  stockholder,  and 
convey  the  same  to  the  purchaser  at  said  sale ;  and  if  said  sale  of  stock 
do  not  produce  a  sum  sufficient  to  pay  off  the  incidental  expenses  of  the 
sale,  and  the  entire  amount  owing  by  such  stockholder  to  the  Company 
for  such  subscription  of  stock,  then  and  in  that  case  the  whole  of  such 
balance  shall  be  held  and  taken  as  due  at  once  to  the  Company,  and 
may  be  recovered  of  such  stockholder  or  his  executors,  administrators 
or  assigns,  at  the  suit  of  said  Company,  either  by  summary  motion  in 
any  Court  of  superior  jurisdiction  in  the  county  where  the  dehnquent 
resides,  on  a  previous  notice  of  ten  days  to  said  subscriber,  or  by  the  ac- 
tion of  assumpsit  in  any  Court  of  competent  jurisdiction,  or  by  a  warrant 
before  a  Justice  of  the  Peace,  where  the  sum  does  not  exceed  one  hun- 
dred dollars ;  and  in  all  cases  of  assignment  of  stock,  before  the  whole 
amount  has  been  paid  to  the  Company,  then  for  all  sums  due  on  such 
stock,  both  the  original  subscribers,  and  the  first  and  all  subsequent  as- 
signees shall  be  liable  to  the  Company,  and  the  same  may  be  recovered 
as  above  described. 

Sec.  21.  That  the  debt  of  stockholders,  due  to  the  Company  for  stock 
therein,  either  as  original  proprietor  or  as  first  on  subsequent  assignee, 
shall  be  considered  as  of  equal  dignity  with  judgments  in  the  distribution 
of  assets  of  a  deceased  stockholder,  by  his  legal  representatives. 

Sec.  22.  That  said  Company  shall  issue  certificates  of  stock  to  its 
members ;  and  said  stock  may  be  transferred  in  such  manner  and  form 
as  may  be  directed  by  the  by-laws  of  the  company. 

Sec.  23.  Tliat  the  said  company  may,  at  any  time,  increase  its  capi- 
tal to  a  sum  sufficient  to  complete  said  road,  not  exceeding 

dollars,  either  by  opening  Books  for  new  stock  or  by  selling  such 


new  stock,  or  by  bon-owing  money  on  the  credit  of  the  company,  and 
on  the  mortgage  of  its  charter  and  works  ;  and  the  manner  in  which  the 
same  shall  be  done  in  either  case,  shall  be  prescribed  by  the  stockhold- 
ers at  a  general  meeting. 

Sec.  24.  Tliat  the  Board  of  Directors  shall  once  in  every  year,  at  least, 
make  a  full  report  on  the  state  of  the  company,  and  its  affaii-s  to  a  general 
meeting  of  the  stockholders,  and  oftener  if  required  by  a  by-law,  and  shall 
have  power  to  call  a  general  meeting  of  the  stockholders,  when  the  Board 
may  deem  it  expedient ;  and  the  company  may  provide,  in  their  by-laws, 
for  occasional  meetings  being  called,  and  prescinbe  the  mode  thereof. 

Sec.  25.  That  the  said  company  may  purchase,  have  and  hold,  in  fee. 


12- 

or  for  a  term  of  years,  any  land,  tenements,  or  hereditaments,  which  may 
be  necessary  for  the  said  road,  or  the  appui'tenances  thereof  or  for  the  erec- 
tion of  depositories,  store  houses,  houses  for  the  officers,  servants  or  agents 
of  the  company,  or  for  workshops  or  foundries,  to  be  used  for  the  said 
company ;  or  for  procuring  stone  or  other  materials  necessary  to  the  con- 
struction of  the  road,  or  for  effecting  transportation  thereon,  and  for  no 
other  purposes  whatever. 

Sec.  26.  That  the  company  shall  have  the  right,  when  necessary,  to 
conduct  the  said  road  across  or  along  any  public  road  or  water  course  : — 
Provided,  That  the  said  company  shall  not  obstruct  any  public  road, 
without  constructing  another  equally  as  good  and  as  convenient,  nor  with- 
out making  a  draw  in  any  bridge  of  said  road,  which  may  cross  a  navigable 
stream,  sufficient  for  the  passage  of  vessels  navigating  such  stream,  which 
draw  shall  be  opened  by  the  company  for  the  free  passage  of  vessels,  navi- 
gating such  stream. 

Sec.  21.  That  when  any  lands  or  right  of  way  may  be  required  by  said 
company,  for  the  purpose  of  constructing  their  road,  and  for  the  want  of 
agreement  as  to  the  value  thereof,  or  from  any  other  cause,  the 
same  cannot  be  purchased  from  the  owner  or  owners,  the  same 
may  be  taken  at  a  valuation  to  be  made  by  five  commissioners,  or  a 
majority  of  them,  to  be  appointed  by  any  court  of  record,  having  com- 
mon law  jurisdiction  in  the  county  where  some  part  of  the  land  or  right 
of  way  is  situated.  In  making  the  said  valuation,  the  said  commission- 
ei"s  shall  take  into  consideration  the  loss  or  damage  which  may  accrue 
to  the  o^\^ler  or  owners  in  consequence  of  the  land  or  the  right  of  way 
being  surrendered,  and  the  benefit  and  advantage  he,  she,  or  they  may 
receive  from  the  erection  or  establishment  of  the  rail  road  or  work,  and 
shall  state  particularly  the  value  and  amount  of  each  ;  and  the  excess  of 
loss  and  damage,  over  and  above  the  advantage  and  benefit,  shall  form 
the  measure  of  ^"aluation  of  the  said  land  or  right  of  way  :  Provided,  nev- 
ertheless, that  if  any  person  or  persons  over  whose  land  the  road  may  pass, 
should  be  dissatisfied  with  the  valuation  of  said  commissioners,  then  and  iii 
tliat  case,  the  person  or  persons  so  dissatisfied  may  have  an  ajipeal  to  the 
Superior  court,  in  the  county  where  the  said  valuation  has  been  made, 
or  in  either  county  in  which  the  land  lies,  when  it  may  he  in  more  than 
one  county,  under  the  same  rules,  regulations  and  restrictions  as  in  ap- 
peals from  judgments  of  justices  of  the  peace.  The  proceedings  of  the 
said  commissioners,  accompanied  Avith  a  full  description  of  the  said  land 
or  right  of  way,  shall  be  returned,  under  the  hands  and  seals  of  a  ma- 


13 
jority  of  the  commissioners,  to  the  court  from  which  the  commission 
issued,  there  to  remain   a  matter  of  record.     And  the  lands  or  right  of 
way  so  valued  by  the  said  commissioners,  shall  vest  in  the  said  company 
so  long  as  the  same  shall  be  used  for  the  purposes  of  said  rail  road,  so  soon 
as  the  valuation  may  be  paid,  or,  when  refused,  may  have  been  tender- 
ed :  Provided,  that  on  appHcation  for  the  appointment  of  conmiissioners, 
under  this  section,  it  shall  be  made  to  appear  to  the  satisfaction  of  the  court, 
tliat  at  least  ten  days  previous  notice  has  been  given  by  the  applicant  to 
the  owner  or  ownei-s  of  land  so  proposed  to  be  condemned,  or,  if  the  own- 
er or  owners  be  infants  or  non  compos  mentis,  then  to  the  guardian  of 
such  owner  or  owners,  if  such  guardian  can  be  found  within  the  county,  or 
if  he  cannot  be  so  found,  then  such  appointment  shall  not  be  made  unless 
notice  of  the  application  shall  have  been  published,  at  least  one  month 
next  preceding,  in  some  new^spaper  printed  as  convenient  as  may  be  to  the 
court  house  of  the  county,  and  shall  have  been  posted  at  the  door  of  the 
court  house,  on  the  ^rst  day  at  least  of  the  term  of  said  court,  to  which  the 
application  is  made  :  Provided  further,  that  the  valuation  provided  for 
in  this  section,  shall  be  made  on  oath  by  the  commissionei"s  aforesaid, 
which  oath,  any  justice  of  the  peace,  or  clerk  of  the  court  of  county  in 
which  the  land  or  a  part  of  it  lies,  is  hereby  authorized  to  administer  : 
Provided  further,  That  the  right  of  condemnation  herein  gi-anted  shall 
not  authorize  the  said  company  to  invade  the  dwelling  house,  yard,  gar- 
den or  burial  ground  of  any  indi\idual,  without  his  consent. 

Sec.  28.  That  the  right  of  said  company  to  condemn  lands  in  the 
inanner  described  in  the  twenty-seventh  section  of  this  Act,  shall  extend 
to  the  condemning  one  hundred  feet  on  each  side  of  the  main  track  of 
the  road,  measuring  from  the  centre  of  the  same,  unless  in  case  of  deep 
cuts  and  fillings,  when  said  company  shall  have  power  to  condemn  as 
much  in  addition  thereto,  a.s  may  be  necessary  for  the  purpose  of  con- 
structing said  road  ;  and  the  company  shall  also  have  power  to  condemn 
any  appropriate  lands  in  like  manner,  for  the  constructing  and  building 
of  depots,  shops,  ware-houses,  buildings  for,  servants,  agents  and  pereons 
employed  on  the  road,  not  exceeding  two  acres  in  any  one  lot  or  station. 

Sec.  29.  That  in  the  absence  of  any  contract  or  contracts  with  said 
company,  in  relation  to  lands  through  which  the  said  road  or  its  branch- 
es may  pass,  signed  by  the  owner  thereof  or  by  his  agent,  or  any  claim- 
ant or  person  in  possession  thereof,  which  may  be  confirmed  by  the  own- 
er thereof,  it  shall  be  presumed  that  the  land  upon  which  the  said  road 


14 

or  any  of  its  branches  may  be  constructed,  together  with  a  space  of  one 
hundred  feet  on  each  side  of  the  centre  of  the  said  road,  has  been  granted 
to  the  said  company,  by  the  owner  or  owners  thereof ;  and  the  said  com- 
pany shall  have  good  right  and  title  thereto,  and  shall  have,  hold  and  en- 
joy the  same  as  long  as  the  same  be  used  for  the  purposes  of  said  road  and 
no  longer,  unless  the  person  or  persons  owning  the  said  land  at  the  time 
that  part  of  the  said  road  which  may  be  on  the  said  land,  was  finished, 
or  those  claiming  under  him,  her  or  them,  shall  apply  for  an  assessment 
of  the  value  of  said  lands,  as  hereinbefore  directed,  within  two  years  next 
after  that  part  of  the  said  road,  which  may  be  on  the  said  land,  was 
finished ;  and  in  ease  the  said  owner  or  owners,  or  those  claiming  under 
him,  her  or  them,  shall  not  apply  Avithin  two  years  next  after  the  said 
part  was  finished,  he,  she  or  they  shall  be  forever  barred  from  recovering 
said  land  or  having  any  assessment  or  compensation  thereof:  Provided, 
nothing  herein  contained  shall  effect  the  rights  of /e»ie  coi'erfs  or  infants, 
until  two  years  after  the  removal  of  their  respective  disabilities. 

Sec.  30.  That  all  lands  not  heretofore  granted  to  any  person,  nor  ap- 
propriated by  law  to  the  use  of  the  State,  within  one  hundred  feet  of 
the  centre  of  said  road,  which  may  be  constructed  by  the  said  company, 
shall  vest  in  the  company  as  soon  as  the  line  of  the  road  is  definitely 
laid  out  through  it,  and  any  grant  of  said  land  thereafter  shall  be  void. 

Sec.  31.  That  if  any  person  or  persons  shall  intrude  upon  the  said 
rail  road  by  any  manner  of  use  thereof,  or  of  the  rights  and  privileges 
connected  therewith,  without  the  permission  or  contrary  to  the  vnW  of 
the  said  company,  he,  she  or  they  may  be  indicted  for  misdemeanor,  and 
upon  conviction,  fined  and  imprisoned  by  any  court  of  competent  juris- 
diction. 

Sec.  32.  That  if  any  person  shall  wilfully  and  maliciously  destroy,  or 
in  any  manner  hurt,  or  damage,  or  obstruct,  or  shall  wilfully  and  mali- 
ciously cause,  or  aid,  or  assist  or  counsel  and  advise  any  other  person  or 
persons  to  destroy,  or  in  any  manner  to  hiut,  damage  or  destroy,  injure 
or  obstruct  the  said  rail  road,  or  any  bridge  or  vehicle  used  for  or  in  the 
transportation  thereon,  any  water-tank,  ware-house,  or  any  other  proper- 
ty of  said  company,  such  person  or  persons  so  offending,  shall  be  liable 
to  be  indicted  therefor,  and,  on  conviction,  shall  be  imprisoned  not  more 
than  six,  nor  less  than  one  month,  and  pay  a  fine  not  exceeding  five 
hundred  dollars,  nor  less  than  twenty  dollars,  at  the  discretion  of  the 
court  before  which  said  conviction  shall  take  place ;  and  sh^  be  further 


15 
liable  to  pay  all  expenses  of  repairing  the  same ;  and  it  shall  not  be  compe- 
tent for  any  person  so  offending  against  the  provisions  of  this  clause  to  defend 
himself  by  pleading  or  giving  in  evidence  that  he  was  the  owner,  agent  or 
servant  of  the  owner  of  the  land  where  such  destruction,  hurt,  damage,  in- 
jury, or  obstruction  was  done,  at  the  time  the  same  was  done  or  caused  to 
be  done. 

Sec.  33.  That  every  obstruction  to  the  safe  and  free  passage  of  vehicles 
on  the  said  road  or  its  branches  shall  be  deemed  a  public  nuisance,  and 
may  be  abated  as  such  by  any  officer,  agent  or  servant  of  said  company  ; 
and  the  person  causing  such  obstruction  may  be  indicted  and  punished  for 
erecting  a  public  nuisance. 

Sec.  34.  That  the  said  company  shall  have  the  right  to  take  at  the 
store-houses  they  may  estabhsh  on,  or  annex  to  their  rail  road  or  the 
branches  thereof^  all  goods,  wares,  merchandise  and  produce  intended  for 
transportation,  prescribe  the  rules  of  priority,  and  charge  and  receive  such 
just  and  reasonable  compensation  for  storage,  as  they  by  rules  may  estab- 
lish (which  they  shall  cause  to  be  published)  or  as  may  be  fixed  by  agree- 
ment Avith  the  owner  which  may  be  distinct  from  the  rates  of  transporta- 
tion :  Provided,  that  the  said  company  shall  not  charge  or  receive  storage 
on  goods,  wares,  merchandise  or  produce  which  may  be  delivered  to  them 
at  their  regular  depositories  for  immediate  transportation,  and  which  the 
company  may  have  power  to  transport  immediately. 

Sec.  35.  That  the  profits  of  the  company,  or  so  much  thereof  as  the 
general  Board  may  deem  advisable,  shall,  when  the  affairs  of  the  compa- 
ny will  permit,  be  semi-annually  divided  among  the  stockholders,  in  pro- 
portion to  the  stock  each  may  own. 

Sec.  36.  That  whenever  it  shall  appear  to  the  Board  of  Internal  Im- 
provements of  this  State,  by  a  certificate  under  the  seal  of  said  company, 
signed  by  their  Treasurer  and  countersigned  by  their  President,  that  one 
third  have  been  subscribed  for  and  taken,  and  that  at  least  five  hundred 
thousand  dollars  of  said  stock  has  been  actually  paid  into  the  hands  of  said 
Treasurer  of  said  company,  the  said  Board  of  Internal  Improvements 
shall  be,  and  they  are  hereby  authorized  and  required  to  subscribe  on  be- 
half of  the  State,  for  stock  in  said  company,  to  the  amount  of  Two  Millions 
of  Dollars  to  the  capital  stock  of  said  company ;  and  the  subscription  shall 
be  paid  in  the  following  manner,  to  wit :  The  one  fourth  part  as  soon  as 
the  said  company  shall  commence  work,  and  one  Iburth  thereof  every 
six  months  thereafter,  until  the  whole  subscription  in  behalf  of  the  State 


16 

shall  be  paid;  Provided^  tlie  Treasurer  and  President  of  said  eompany 
shall,  before  they  receive  the  aforesaid  instalments,  satisfactorily  assure 
the  Board  of  Internal  Improvements,  by  the  certificates,  under  the  seal 
of  said  company,  that  an  amount  of  the  private  subscription  has  been 
paid  in  equal  proportion  to  the  stock  subscribed  by  the  State. 

Skc.  3*7.  That  if  in  case  the  present  Legislature  shall  not  provide  the 
necessary  and  ample  means  to  pay  the  aforesaid  instalments  on  the  stock 
subscribed  for  on  behalf  of  the  State,  as  pi'ovided  for  in  the  36th  section 
of  this  Act,  and  in  that  event,  the  Board  of  Internal  Improvement  afore- 
said, shall,  and  they  are  hereby  authorized  and  empowered  to  borrow,  on 
the  credit  of  the  State,  not  exceeding  two  million  of  dollars,  as  the  same 
may  be  needed  by  the  requirements  of  this  Act. 

Sec.  38.  That  if  in  case  it  shall  become  necessary  to  borrow  the  money, 
by  this  Act  authorized,  the  Public  Treasurer  shall  issue  the  necessary 
certificates,  signed  by  himself  and  countersigned  by  the  Comptroller,  in 
sums  not  less  than  one  thousand  dollare  each,  pledging  the  State  for  the 
payment  of  the  sum  therein  mentioned,  with  interest  thereon  at  the  rate 
of  interest  not  exceeding  six  per  cent,  per  annum,  payable  semi-annually, 
at  such  times  and  places  as  the  Treasurer  may  appoint — the  principal  of 
which  certificates  shall  be  redeemable  at  the  end  of  thirty  years  from  the 
time  the  same  are  issued ;  but  no  greater  amount  of  such  certificates 
shall  be  issued  at  any  one  time  than  may  be  sufficient  to  meet  the  in- 
stalment required  to  be  paid  by  the  State  at  that  time. 

Sec.  39.  Be  it  further  enacted,  That  the  Comptroller  shall  register 
said  certificates  at  large  in  a  book  to  be  by  him  kept  for  that  purpose,  at 
the  time  he  countersigns  the  same  ;  and  when  he  dehvers  the  same  to 
the  Public  Treasurer,  he  shall  charge  him  in  his  books  with  the  amount 
thereof,  and  also  with  all  such  sums,  if  any,  as  the  Public  Treasurer  may 
obtain  by  way  of  premium  on  the  sale  of  the  said  certificates,  an  acsouut 
of  which  the  Public  Treasurer  shall  render  to  the  Comptroller,  so  soon 
as  negotiations  from  time  to  time,,  for  tlie  sale  of  said  certificates,  are 
closed. 

Sec.  40.  Be  it  further  enacted,  That  if  it  shall  become  necessary  to 
issue  tlie  eertifieates  aforesaid,  liie  Public  Treasurer  shall  advertise  in  one 
or  more  newspapers,  as  he  may  think  best,  and  invite  sealed  proposals 
for  such  amount  of  the  aforesaid  sum  of  two  n>ilhons  of  dollars  as  may 
be  wanted  at  any  one  time,  and  it  shall  be  his  duty  to  accept  those  t«rms 
which  may  be  most  advantageous  to  the  State :  Provided,  that  in  no 


17 

e\ent  shall  any  of  tlie  said  cin-tificates  Ixj  sold  for  less  than  Uieir  pav  val- 
ue ;  and  any  premium  whioli  may  be  obtained  on  tlie  sale  of  said  certifi- 
i-ates  shall  be  placed  in  the  Public  Treasury,  and  used  as  other  public 
funds  in  the  payment  of  interest  on  the  debt  hereby  created. 

Sec.  41.  JJe  it  further  enacted,  That  as  security  for  the  redemption 
of  said  certificates  of  debt,  the  public  faith  of  the  State  of  North  Caro- 
lina is  hereby  jiledged  to  the  holders  thereof,  and  in  addition  thereto  all 
the  stock  held  by  the  State  in  "  The  North  Carohua  Kail  Road  Compa- 
ny "  hereby  created,  shall  be,  and  the  same  is  hereby,  pledged  for  that 
}HU'pose ;  and  any  di\"idends  of  profit  wliicli  may,  from  time  to  time,  be 
apphed  to  the  payment  of  the  interest  accruing  on  said  certificates  ;  but 
until  such  dividends  of  profit  may  be  declared,  it  shall  be  the  duty  of 
the  Trciisurer,  and  he  is  hereby  authorized  and  directed  to  pay  all  such 
interest  as  the  same  may  accrue  out  of  any  moneys  in  the  Treas-ury  not 
otherwise  appropriated. 

Sec.  42.  Be  it  further  enacted,  That  the  certificates  of  debt  hereby 
authorized  to  be  issued,  shall  be  transferable  by  the  holders  thereof,  their 
agents  or  attorneys,  properly  constituted,  in  a  book  to  be  kept  by  tho 
Public  Treasurer  for  that  purpose ;  and  in  every  instance,  where  a  trans- 
fer is  made,  the  outstanding  certificate  shall  be  surrendered  and  given  un 
to  the  Public  Treasurer,  and  by  him  cancelled,  and  a  ne^v  one,  for  the 
amount,  issued  in  its  place  to  the  person  to  whom  the  same  is  transferred. 

Sec.  43.  That  the  State  shall  appoint  the  number  of  Directors  in  said 
company,  in  |)roportion  to  the  stock  subscribed,  who  shall  be  appointed 
by  the  Governor,  by  and  with  the  advice  and  consent  of  liis  council,  and 
removed  in  like  manner. 

Sec.  44.  That  the  following  officers  and  servants  and  persons  in  tlie 
actual  employment  of  the  said  company  be,  and  they  are  hereby  exempt- 
ed from  the  performance  of  jury  and  ordinary  military  duty :  The  Pre- 
sident and  Treasurer  of  the  Board  of  Directors,,  and  chief  and  assistant 
Engineers,  the  Secretaries  and  accountants  of  the  company,  keepers  of 
the  depositories,  guard  stationed  on  the  road  to  protect  it  from  injury, 
and  sucli  persons  as  may  be  working;  the  locomotive  engines  and  travel- 
ting  with  cai-s  for  the  purpose  of  attending  to  th;j  tnmsporting  of  pnv 
duce,  goods  and  passengers  on  the  r(jad. 

Sec.  45.  B<i  it  enacted,     That  for  th*-  purpose  of  putting  tLn-  Rall>^^i 


18 

and  Gaston  Rail  Road  in  good  and  complete  order  for  the  profitable 
transportation  of  persons  and  produce,  and  for  the  further  purpose  of  re- 
viving the  Raleigh  and  Gaston  Rail  Road  Company,  Rhodes  N.  Herndon, 
Thomas  Miller,  John  S.  Eaton,  of  Granville  county ;  William  J.  Hawkins, 
Weldon  N.  Edwards,  George  D.  Baskerville,  of  Warren  county  ;  George 
W.  Mordeica,  Richard  Smith,  W.  W.  Holden,  of  Wake  county  ;  John  D. 
Hawkins,  Sr.,  Allen  C.  Perry,  John  D.  Hawkins,  Jr.,  of  Franklin  county  ; 
and  the  late  stockholders  of  and  obligors  for  the  Raleigh  and  Gaston  Rail 
Road  Company,  or  any  part  of  them,  and  such  other  persons  and  corpora- 
tions as  may  associate  with  them,  are  hereby  created  a  body  pohtic  and 
corporate,  by  the  name  and  style  of  the  Raleigh  and  Gaston  Rail  Road 
Company,  and  by  that  name  shall  be  able  to  sue  and  be  sued,  and  shall 
have,  possess  and  enjoy  all  the  rights,  fi-anchises,  powers  and  privileges, 
vested  in  and  granted  to  the  Raleigh  and  Gaston  Rail  Road  Company,  by 
an  Act,  entitled  "  An  Act  to  incorporate  the  Raleigh  and  Gaston  Rail 
Road  Company,"  passed  by  the  General  Assembly  of  this  State  on  the 

day  of ,  and  shall  be  subject  to  all  the  restraints,  limitations, 

restrictions  and  habilities  imposed  by  the  said  Act ;  and  all  the  other  pro- 
visions of  the  said  Act,  so  far  as  the  same  remain  to  be  executed,  are  here- 
l)y  declared  to  be  in  full  force  and  effect,  upon  the  following  terms  and 
conditions  nevertheless. 

Sec.  46.  Be  it  enacted.,  That  whenever  the  said  persons  and  their  as- 
sociates named  in  the  foregoing  section,  shall  have  subscribed  the  sum  of 
£ve  hundred  thousand  dollars,  for  the  purposes  aforesaid,  and  shall  have 
expended  the  same,  in  putting  the  Raleigh  and  Gaston  rail  road  in  com- 
plete order,  with  heavy  T  iron,  or  other  iron  equally  good,  not  weighing 
loss  than  fifty  pounds  to  the  yard,  then  one  half  of  the  said  rail  road,  with 
all  the  machine  shops,  depots,  water  stations,  engines,  coaches,  cars  and 
every  other  property  appertaining  to  the  rail  road,  shall  be  sold,  conveyed 
and  transfen-ed  to  the  said  subscribers,  their  heirs  and  assigns,  by  the  Gov- 
ernor, under  the  great  seal  of  the  State ;  and  the  said  late  stockholders  and 
obligors  of  the  said  Raleigh  and  Gaston  Rail  Road  Company,  shall  be  and 
are  hereby  declared  to  be  forever  released  and  discharged  from  all  hability 
to  the  State,  for  and  on  account  of  the  said  Raleigh  and  Gaston  Rail  Road 
Company,  upon  the  payment  of  costs  incurred.  And  the  Governor  is 
hereby  aiithorized,  and  it  is  declared  to  be  his  duty  to  suspend  the  finther 
prosecution  of  suits  brought  by  the  State,  against  the  said  stockholders  and 
obligors,  until  it  can  be  ascertained  whether  the  subscribers  are  willing  to 


19 

accept  the  conditions  of  this  Act,  and  tliat  they  shall  be  allowed  two  years 
from  the  passage  of  this  Act  to  make  known  their  determination  to  the 
Governor.  And  if  the  terms  and  conditions  of  this  Act  shall  be  accepted, 
and  the  work  commenced  Avithin  two  years,  and  finished  within  three  years 
from  the  ratification  of  this  Act,  then  this  Act  shall  continue  and  be  in  full 
force  for  ninety  years  and  no  longer. 

Sec.  47.  Be  it  farther  enacted^  That  if  the  conditions  of  this  Act  aro 
accepted,  and  the  sum  of  five  hundred  thousand  dollars  shall  have  been 
subscribed  by  solvent  subscribers,  to  be  judged  of  by  the  Go\'ernor  and 
Attorney  General,  then  and  in  that  case,  the  said  subscribers  shall  have 
lawful  authority  to  mortgage  one  half  of  tlie  said  rail  road,  to  enable  them 
to  obtain  the  necessary  credit  to  purchase  a  part  of  the  iron  which  Avill 
be  needed  for  said  road. 

Sec.  48.  Be  it  further  enacted^  That  if  the  said  subscribers  shall  re- 
fuse or  neglect  to  accept  the  terms  and  conditions  of  this  Act,  then  all 
tlie  benefits  of  the  same  shall  be  gTanted  to  Thomas  F.  Wyatt,  John 
Campbell,  Thomas  P.  Devereux,  Andrew  Joyner,  Weldon  N.  Edwards, 
George  D.  Baskerville,  and  Alexander  Plawkins,  and  such  other  persons 
as  may  associate  with  them,  who  shall  accept  and  comply  Avith  all  the 
terms  and  conditions  of  the  same ;  and  they  and  their  successors  are 
hereby  incorporated  into  a  Company,  by  the  name  and  style  of  the  Ra- 
leigh and  Gaston  Rail  Road  Company,  and  by  that  name  shall  have  law- 
ful authority  to  sue  and  be  sued,  to  hold,  possess  and  enjoy  all  the  rights, 
franchises,  powers  and  pri\ileges  gi-anted  by  this  Act  and  shall  be  subject 
to  all  the  restraints,  hmitations,  restrictions,  and  liabilities  imposed  bv  the 
same. 

Sec.  49.  Be  it  enacted,  That  whenever  the  Roanoke  Rail  Road  Com- 
pany or  the  Seaboard  and  Roanoke  Rail  Road  Company,  A\ith  or  Avith- 
out  the  aid  of  indiA'iduals,  shall  subscribe  to  the  Raleigh  and  Gaston  Rail  ' 
Road  Company,  one  half  of  the  sum  necessary  to  construct  a  rail  road 
from  some  convenient  point  on  the  Raleigh  and  Gaston  Rail  Road,  near 
the  Littleton  Depot,  or  any  point  between  that  Depot  and  Roanoke  River, 
and  the  Toaaoi  of  Weldon,  or  any  point  in  the  neighborhood  thereof,  so  a>; 
to  connect  with  the  Wilmington  and  Raleigh  Rail  Road,  and  the  Sea- 
board and  Roanoke  Rail  Road,  and  shall  expend  the  said  sum  in  forming 
the  said  connection,  then  the  said  Raleisrh  and  Gaston  Railroad  shall  be 


20 

extended  to  the  said  town  of  Weldon  or  neighborhood  thereof;  and  the 
PubUc  Treasm-er  is  hereby  authorized  and  directed  to  subscribe  for  an 
equal  sum  for  and  in  behalf  of  the  State,  and  pay  for  such  subscription, 
out  of  any  money  in  the  Treasury  not  otherwise  appropriated ;  and  for  the 
want  of  such  money  in  the  Treasury,  the  Pubhc  Treasurer  is  hereby  au- 
thorized to  borrow  the  sum  at  a  rate  of  interest  not  exceeding  six  per  cent, 
per  annum,  and  to  issue  bonds  payable  at  any  time  within  ten  years,  for 
not  less  than  five  hundred  dollars  each. 

Sec.  50.  And  be  it  further  enacted,  That  one  of  the  conditions  of  this 
charter  is  that  this  General  Assembly  shall  have  power  and  authority  at 
any  future  session  to  establish, «'regulate  and  control  the  intercourse  be- 
tween the  North  Carohna  Rail  Road  and  the  Raleigh  and  Gaston  Rail 
Road,  so  as  best  to  secure  to  the  public  aji  easy  and  convenient  passage  of 
persons  and  property. 

Ssc.  51.  Be  it  further  enacted,  That  the  sum  of  forty  thousand  dol- 
lars, to  be  raised  ])y  the  State  in  the  same  manner  as  other  moneys  are 
raise^i  by  the  provisions  of  this  Act,  be,  and  the  same  is  hereby  appro- 
priated for  the  purpose  of  cleaning  out  and  improving  the  navigation  of 
the  river  Neuse,  between  the  town  of  Newbern  and  the  town  of  Smith- 
iield.  And  also,  that  the  further  sum  of  twenty-five  thousand  dollars,  tu 
1)8  raised  in  like  manner,  be  and  the  same  is  hereby  appropriated,  for  the 
]>urpose  of  cleaning  out  and  improving  the  navigation  of  the  Tar  rWev 
between  the  town  of  Washington  and  the  falls  of  the  said  river;  and 
that  his  Excellency  the  Governor  is  hereby  empowered  and  i-equired  tu 
appoint  suitable  commissioners  to  carry  into  effect  the  requirements  of  tliis 
section  :  Provided,  the  sum  hereby  a])propriated  to  the  Neuse  and  Tar 
rivei-s  shall  not  be  paid  by  the  Public  Treasurer,  until  the  raili'oad  compa- 
!iy  shall  have  subscribed  the  whole  amount  of  stock  required  from  them, 
by  i\\:i  provisions  of  tins  Act,  and  ha^■e  eomnu>nced  operations  on  said 
road. 

Skc.  52.  Jye  it  further  enacted,  That  jts  soon  as  the  said  North  Caro- 
lina Rail  Rail  Road  is  cotnmenced  and  the  supei-structure  of  the  same  laid 
do\v'n  at  Rali^igh,  tlie  owners,  proprietors  and  authorities  of  the  Raleigh 
and  Gaston  Rail  Road  shall  be,  and  they  are  hereby  authorized  and 
empowered  to  effect  a  junction  and  tbrm  an  actual  connexion  with  the 
said  North  Carolina  Rail  Road,  at  such  point  at  or  in  the  vicinity  of 
lj:i]>"'igh  as  they  in  their  discretion  may  select. 


21 
Sec.  53.  Be  it  further  enacted,  That  all  the  works  hereby  required 
of  tlie  North  Carolina  Rail  Road  Company  shall  be  executed  -with  due 
diligence,  and  if  they  be  not  commenced  within  three  years  after  the 
ratification  of  this  Act,  and  finished  within  ten  years  after  the  period  of 
commencement,  then  this  charter  shall  be  forfeited. 


BY-LAWS 


OF    THE 


NORTH  CAROLINA  RAIL  ROAD  COMPANY. 


MEETING  OF  STOCKHOLDERS. 

I.  The  next  General  Meeting  of  the  Stockholders  shall  take  place  in 
Greensborough,  on  the  second  Thui-sday  of  July  next ;  and  the  secoijd 
Annual  Meeting  shall  be  ^t  Raleigh,  and  the  third  at  Sahsbury ;  and 
all  subsequent  meetings  shall  alternate  in  the  same  way  betw  een  Greens- 
borough,  Raleigh  and  SaUsbuiy.  And  the  Board  of  Directors  now 
elected,  shall  remain  in  office  until  such  Annual  Meeting  at  Greensbor- 
ough, in  July  next. 

II.  On  failure  of  the  Stockholders  to  elect  Directors  at  any  General 
Annual  Meeting,  it  shall  be  the  duty  of  the  President,  for  the  time  be- 
ing, forthwith  to  advertise  a  General  Meeting  of  theStockholdei-s  to  be 
held  ^^'ithin  twenty  days  thereafter  for  the  purpose :  and  on  failure  of 
the  President  so  to  advertise,  or  of  the  meeting  so  called  to  elect 
Directors,  it  shall  be  the  duty  of  the  Directors  for  the  time  being,  or  any 
one  of  them,  to  advertise  as  above  directed. 


91 


III.  At  least  one  hundred  indindual  stockholders,  represented  either 
in  person  or  hy  proxy,  and  hokUng  not  less  than  a  majoi'ity  of  the  Stock 
subscribed,  shall  be  necessary  to  constitute  a  quorum  for  the  transaction 
of  business. 

IV.  The  President  or  any  fi\e  Directors  shall  liave  power  to  call  oc- 
casional meetings  of  the  Stockholders  at  such  time  and  places,  as  he  or 
they  may  think  proper ;  tirst  giving  twenty  days  notice  tliereof,  in  two 
or  more  newspapers  published  within  the  State. 

PRESIDENT. 

I.  The  President  shall  be  elected  annually  by  ballot  by  the  majority 
of  the  Board  of  Directors ;  and  shall  receive  as  conrpensation  for  his 
services  an  annual  salary  of  $2500,  over  and  above  his  necesssry  travel- 
ling expenses  incurred  by  order  of  the  Board  of  Directors,  in  journeys 
out  of  the  State. 

II.  The  President  shall  have  the  general  superintendence  and  control 
of  all  the  other  officers  of  the  Company,  and  shall  prescribe  their  duties 
unless  otherwise  provided  for  by  the  Rules  and  Regulations  of  the  Board 
of  Directors  :  he  shall  carefully  examine  into  the  performance  of  their 
duties,  and  from  time  to  time  report  to  the  Directors  all  and  every  mat- 
ter touching  the  interests  of  the  Company  which  shall  come  to  his  ' 
knowledge. 

III.  The  President  shall  keep  the  seal  of  the  Company,  and  with  the 
consent  of  a  majority  of  the  Directors  shall  affix  the  same  to  all  con- 
veyances and  other  instruments  to  which  the  attestation  of  the  seal  may 
be  necessary,  and  sign  the  same  on  behalf  of  the  Corporation. 

TREASURER  AND  SECRETARY. 

I.  The  offices  of  Secretary  and  Treasurer  shall  be  combined  until  the 
Board  of  Directors  shall  deem  it  necessary  to  se]3arate  them. 

II.  The  Treasurer  and  Secretary  shall  be  appointed  by  the  Board  of 
Directors,  and  shall  give  bond  in  the  sum  of  |80,000,  with  security  to 
be  approved  by  the  Board,  and  shall  receive  for  his  ser^'ices  the  sum  of 
81250  per  annum. 

III.  It  shall  be  the  duty  of  the  Ti-easurer  and  Secretary  to  keep  a  full 
and  fair  journal  of  the  meetings  and  proceedings  of  the  Board  of  Di- 
rectors ;  to  advertise  and  collect  all  assessments  which  may  from  time  to 
time  be  made  upon  the  Stockholders ;  and  in  failure  of  any  Stockhold- 


25 
er  to  pay  his  assessments  >\'ithiu  the  time  prescribed,  to  report  the 
n.ame  or  names  of  such  Stockhoklei-s  to  the  President ;  to  take  charge 
of  and  safely  keep  all  the  money  and  other  valuable  effects  of  the  Com- 
pany, and  to  disburse  the  same  under  the  direction  and  upon  the  req\ii- 
sition  of  the  President ;  and  to  take  proper  vouchers  for  such  disburse- 
ments, and  to  perform  all  such  othei-  duties  as  may  be  prescribed  by  the 
Board  of  Directors. 

IV.  The  Treasurer  shall  deposit  all  moneys  belonging-  to  the  Compa- 
ny in  the  Bank  of  the  State,  at  Raleigh,  and  in  the  Branch  of  the  Bank 
of  Cape  Fear  at  Salisbury,  and  shall  keep  a  regular  and  accurate  account 
of  receipts  and  disbursements  made  by  him,  and  shall  render  to  the 
President  and  Directors  a  quarterly  account  of  all  his  transactions,  and 
as  much  oftener  as  the  President  and  Directors  may  require ;  and  he 
shall  at  no  time  retain  in  his  hands  a  sum  exceeding  five  thousand  dollars. 

DIRECTORS. 

I.  The  Board  of  Directors  shall  meet  once  in  every  three  months. — 
The  fii'st  meeting  shall  take  place  in  Salisbury,  and  all  subsequent  meet- 
ings at  such  places  as  the  Board  may  direct ;  and  the  President  shall  be 
at  liberty  to  convene  the  Board  as  much  oftener  as  the  interests  of  the 
Company  may  require ;  and  the  Directors  shall  receive  as  full  compen- 
sation for  their  services  at  the  rate  of  ten  cents  per  mile  for  every  mile 
travelled  to  and  from  the  place  of  meeting ;  and  fi\e  members  of  the 
Board  of  Directors,  including  the  President,  shall  constitute  a  quorum 
for  the  transaction  of  business. 

II.  The  President  and  Directors  shall  have  power  to  employ  Engi- 
neers and  such  other  Officers  and  Agents  as  the^-  may  think  proper,  and 
to  fix  their  compensation ;  and  shall  make  a  report  of  all  such  apjwint- 
ments  to  the  regular  Annual  Meeting  of  the  Stockholders. 

III.  The  Directors  shall  have  power  to  estabhsh  a  common  seal  with 
suitable  devices  ;  to  ascertain  and  define  the  duties  of  the  Officers,  Clerks, 
and  Servants  of  the  Company,  and  direct  them  in  the  performance 
thereof,  and  to  dismiss  from  the  service  of  the  Company  any  Officer, 
or  Agent,  Clerk  or  Servant  appointed  by  them,  at  pleasure. 

PROXIES. 

All  Proxies  shaU  be  signed  by  the  party  and  attested  by  some  Jiistice 
of  the  Peace,  Clerk  of  a  Court  of  Record,  Notai'v  Public,  or  some  Di- 


26 

rector  of  the  Company,  and  none  but  a  Stockholder  shall  be  a  Proxj. 

(CONTRACTS. 

Contracts  shall  be  made  imder  such  rules  and  regulations  as  the  Direc- 
tors shall  prescribe,  and  when  signed  by  the  President,  shall  be  binding 
on  the  Company,  either  with  or  without  the  seal  of  the  Corporation. 

CERTIFICATES  OF  STOCK. 
The  form  of  all  Certificates  of  Stock  shall  be  as  follows  : 

North  Carolina  Rail  Road  Company. 
JTo.  Shares. 

Be  it  known  that  of  is 

entitled  to  shares  in  the  North  Carolina  Rail  Road 

Company,  transferrable  by  the  said  either 

personally  or  by  Attorney,  only  at  the  Office,  and  on  the  Books  of  said 
'Company. 

Witness,  President  of  the  said 

North  Carolina  Rail  Road  Company  at  under 

the  seal  of  the  Corporation,  this  day  of 

A.D. 


And  the  Stock  shall  be  transferred,  either  in  person  or  by  Attorney, 
at  the  Office,  and  on  the  Books  of  the  Company  to  be  kept  for  that  pur- 
pose. 


GENERAL  MEETING  OF  STOCKHOLDERS. 


The  Stockholders  having  met  in  the  Methodist  Church,  at  Salisbury, 
on  Thursday,  the  llh  day  of  July,  A.  D.  1850,  pursuant  to  advertise- 
ment. 

On  motion  of  R.  M.  Saunders,  Esq.,  Hon.  Duncan  Cameron,  was  call- 
ed to  the  Chair ;  and  on  motion,  John  B.  Lord,  and  S.  F.  PhiUips,  were 
appointed  Secretaries. 

On  motion,  of  W.  A.  Graham,  Esq.,  a  Committee  of  three  were  ap- 
pointed to  examine  and  report  how  much  Stock  was  represented  in  this 
meeting,  whether  in  person  or  by  proxy,  and  if  by  proxy,  whether  such 
proxy  was  in  due  form  or  not. 

W.  A.  Graham,  George  W.  Mordecai,  and  John  A.  Gilmer,  were  ap- 
pointed by  the  Chair  to  constitute  said  Committee. 

Mr.  Graham,  fi-om  the  Committee  above  appointed,  reported,  that 
the  Committee  in  discharge  of  their  duties  had  examined  the  lists  of 
Stockholders  present,  and  the  Proxies  handed  in,  and  find  8,550  shares 
to  be  duly  represented,  which  being  a  majority  of  the  whole  number  of 
shares,  the  meeting  was  ready  to  proceed  to  business. 

On  motion,  the  report  was  then  amended  by  the  addition  of  218 
shares  represented  by  individuals  arriving  since  the  Committee  retired. 
On  motion,  the  report  was  then  adopted. 

John  M.  Morehead,  Chairman  of  the  Board  of  General  Commission- 
ers presented  the  Journal  of  the  proceedings  of  said  Board  with  the 
original  Books  of  Subscription  and  the  duplicate  declaration  required 
by  the  Charter,  which,  on  motion,  was  refen-ed  to  a  Committee  of  three 
to  examine  and  report  if  the  action  of  said  Board  had  been  in  accord- 
ance with  the  provisions  of  the  Charter. 

The  Chairman  annuounced  that  this  Committee  would  consist  of  R. 
M.  Saunders,  John  W.  Norwood,  and  Calvin  Graves,  Esqrs. 


28 

On  motion,  a  Committee  of  five  was  appointed  to  report  By-Laws 
for  the  government  of  the  Corporation  and  the  transaction  of  business. 

John  M.  Morehead,  George  W.  Mordecai,  Frederick  J.  Hill,  James  M. 
Leach,  and  Hamilton  C.  Jones,  were  appointed  said  Committee. 

On  motion,  of  George  W.  Mordecai,  a  Committee  of  thirteen  was 
appointed  to  enquire  and  report  upon  what  basis  the  Directors  shall  be 
apportioned  among  the  several  Counties,  and  in  what  manner  the  Di- 
rectors shall  be  nominated. 

Committee  consists  of  William  Boylan,  A.  J.  DeRosset,  E.  R.  Stanly, 
James  Griswpld,  William  A.  Graham,  Benjamin  TrolUnger,  A.  Har- 
grave,  N.  Boyden,  A.  G.  Carter,  James  E.  Wilhamson,  John  A.  Gilmer, 
D.  Coleman,  and  Francis  Fries. 

On  motion,  the  meeting  adjourned  to  nine  o'clock,  A.  M.,  to-morrow. 


Friday,  July  12  th,  9  o'clock,  A.  M. 

The  meeting  was  called  to  order  by  the  Chair. 

W.  A.  Graham  from  the  Committee  of  thirteen,  submitted  a  report 
which  was  adopted^  and  the  meeting,  after  nominations  made  in  pursu- 
ance of  said  report,  proceeded  by  ballot  to  elect  twelve  Directors,  John 
W,  Norwood  and  W.  A.  Wright,  being  a  Committee  to  superintend  the 
balloting. 

Mr.  Norwood  from  the  Committee  to  superintend  the  ballotting,  re- 
jx)rted  that  Wilham  C.  Means,  John  L  Shaver,  John  B.  Lord,  Francis 
Fries,  John  W.  Thomas,  John  M.  Morehead,  John  A.  Gilmer,  Benjamin 
Trollinger,  William  A.  Graham,  Romulus  M.  Saunders,  A.  J.  DeRosset, 
and  A.  T,  Jerkins,  had  received  a  majority  of  the  votes  cast. 

The  report  of  the  Committee  being  then  adopted  the  above  named 
persons  were  declared  duly  elected  Directors. 

R.  M.  Saunders,  submitted  the  following  report : 

The  ComBiittee  to  whom  was  referred  the  Joimial  of  the  General 
Commissioners  and  the  papers  accompanying  the  same,  submit  the  fol- 
lowing Report : 

The  Committee  have  examined  A\ith  care  the  papers  submitted  to 
them,  and  find  the  proceedings  of  the  Commissioners  to  have  been 
strictly  in  conformity  with  the  Act  of  the  General  Assembly,  entitled 


29 
"  All  Act  to  incorporate  the  North  Carolina  Kail  Road  Company,"  as 
ratified  the  27th  day  of  January,  1849.  It  appears  that  the  General 
Coniniissiouors  held  an  adjourned  meeting  at  Chapel  Hill,  on  the  5th 
day  of  June,  1850,  when  it  was  ascertained  from  the  original  Books  as 
returned  by  the  local  Commissioners  to  receive  suljscriptions  of  Stock, 
that  the  sum  of  One  JNIiUion  of  Dollars  had  been  fully  subscribed,  and 
the  tu-st  instalment  of  five  dollars  per  share  on  the  said  sum  had  been 
paid.  That  the  Commissioners  thereupon  in  accordance  with  the  pro- 
visions of  the  Act  of  the  General  Assembly,  caused  to  be  made  a  du- 
plicate declaration  under  their  hands  and  seals  with  the  names  of  the 
subscribers  appended,  declaring  the  Comjiany  duly  formed  for  the  pur- 
poses mentioned  in  the  Act  of  Incorporation  from  the  6th  June  1850, 
and  a  copy  thereof  to  be  deposited  in  the  office  of  the  Secretary  of  State. 
Whereupon,  the  Commissioners  caused  it  to  be  pubhshed  as  directed  by 
the  Act  of  Incorporation  as  aforesaid,  that  a  General  Meeting  of  the  Stock- 
holders would  be  held  in  the  Town  of  Salisbury,  on  Thursday  the  11th 
day  of  July,  1850,  for  the  purpose  of  taking  such  action  under  the  Char- 
ter as  should  be  deemed  proper,  and  requesting  the  attendance  of  the 
Stockholders  either  in  person  or  by  proxy. 

The  Committee  being  entirely  satisfied  as  to  the  regularity  of  tlie  pro- 
ceedings of  the  General  Commissioners,  and  that  the  provisions  of  the 
Act  of  the  General  Assembly  have  been  fully  complied  AA-ith,  submit  for 
adoption  the  following  resolution  : 

Resolved,  That  the  Joiu'ual  of  the  (xeneral  Commissioners  with  the 
Books  and  Papers  accompanying  the  same,  be  delivered  to  the  Secreta- 
ry of  the  Company,  and  that  the  fifty  thousand  dolhu's  held  by  said 
Commissioners  be  paid  over  to  the  I)irectors  or  their  authorized  Agent. 
Respectfully  submitted, 
Signed,  R.  M.  SAUNDERS,  Chairman. 

July  12,  1850. 

AVhich  report  with  accompanpng  resolution  was  adopted. 

John  M.  Morehead  from  the  Committee  to  report  By-Laws,  submit- 
ted a  report,  which  after  discussion  and  amendment,  Avas  adopted. 

Mr.  Gilmer  offered  a  resolution  Avhich  Mr.  Norwood  proposed  to 
amend,  when  Mr.  Osborne  moved  to  amend  Mi-.  Norwood's^  amendment 
which  being  accepted  by  Mr.  Gilmer,  was  adopted  as  follows  : 

Resolved,  That  the  Directors  in  the  construction  of  the  North  Caro- 


30 

lina  Rail  Road,  be  instructed  by  this  meeting,  to  carry  out  in  good  faith 
the  resolutions  adopted  in  the  several  Conventions  held  at  Salisbury, 
Greensborough  and  Hillsborough. 

Daniel  Coleman  offered  the  following  preamble  and  resolution  which 
was  adopted : 

Whereas,  The  stock  in  the  North  Carolina  Rail  Road  has  been  taken 
with  a  view  to  the  same  being  so  located  as  to  pass  by  or  near  the  Towns 
of  Hillsborough,  Graham,  Greensborough,  Lexington,  and  Concord, 

Be  it  JResolved,  That  the  Directors  be  instructed  to  ascertain  by  actual 
surveys  whether  said  route,  all  things  considered,  is  not  the  most  prac- 
ticable. 

On  motion  of  H.  C.  Jones, 

Resolved,  That  the  President  and  Du-ectors  cause  to  be  published  in 
pamphlet  fonn  2000  copies  of  the  Charter,  By-Laws,  and  so  much  of 
the  Proceedings  of  this  meeting  as  they  may  deem  proper. 

On  motion  of  William  A.  Graham, 

Resolved,  That  the  thanks  of  this  meeting  be,  and  they  are  hereby 
tendered  to  the  Methodist  Church,  for  the  use  of  their  Building. 

On  motion  of  Calvin  Graves,  it  was  unanimously 

Resolved,  That  the  thanks  of  this  meeting  be  tendered  to  the  Chair- 
man, for  the  dignity,  abihty  and  impartiality  with  which  he  has  presi- 
ded over  its  deliberations. 

With  appropriate  remarks,  the  Chairman  declared  the  meeting  ad- 
journed sine  die. 

DUNCAN  CAMERON,  Chairman. 
John  B.  Lord, 


S.F.  Phillips,    r  SecreU^ries. 


